A sample lecture on LCCI Level 2 Cost Accounting conducted by Subject Specialist, Mr Low Chin Ann. Wish to find out more about LCCI Qualification? Contact us.
Chapter eight highlights the significance of budgeting in business. It’s a vital skill for effective planning, operations, and financial management. A budget is a plan expressed in monetary terms for a specific period, encompassing elements like sales volume, revenue, costs, and cash flow. It’s essential for setting limits within a business’s capability and affordability. Budgeting examples include factory construction, considering factors like time, cost, and resources. Budgets also guide departments towards the company’s goals.
